Chinese restaurants that charge one price per customer for their buffet is an example of
a. Individual pricing
b. Pure bundling
c. Mixed Bundling
d. None of the above
a
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The demand for loanable funds curve shows the relationship between the quantity of loanable funds demanded and
A) the capital stock. B) the expected rate of profit. C) the real interest rate. D) depreciation. E) the price level.
Assume Brandon's benefit function for water is S(W) = ?W and he consumes water both in droughts, WD, or in the rainy season, WR. Assume his current consumption bundle is WD = 400 and WR = 100 and the probability of drought is 0.75. Brandon's risk premium is:
A. 250 units of water. B. 325 units of water. C. 17.5 units of water. D. 18.75 units of water.
Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; lower D. expansionary; lower; potential
At the ________ level of provision for a ________ good, the government must know everyone's preferences.
A. unregulated; private B. optimal; private C. unregulated; public D. optimal; public